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President signs decree on socio-economic development of south-eastern region of Mogilev Oblast

On June 8, the President signed a decree "On the socio-economic development of the south-eastern region of Mogilev Oblast." The document pertains to Klimovichi, Kostyukovichi, Krasnopolye, Krychau, Slawharad, Khotimsk and Cherikov district.

To solve social and environmental problems in the region the decree provides for certain preferences.

For example, these are exemptions from payment of income tax on natural persons at the rate of 10 per cent, benefits relating to mandatory insurance as well as soft loans for construction and purchase of housing for up to 20 years at one percent per annum.

The decree also approved the program of socio-economic development of the region until 2020. It provides for the establishment of new businesses and increase in the efficiency of the existing ones. Focus is made on the processing of local natural resources and agricultural raw materials.

President signs decree on socio-economic development of south-eastern region of Mogilev Oblast